Minnesota Entrepreneurs, Inc.
April 2001 Newsletter

Duncan Gauges Entrepreneurship in
Minnesota - April 10

Paul Duncan has his hand on the pulse of Minnesota business. He has 25
years experience as a reporter, editor and designer for local, national and
international publications including London’s Financial Times and Beijing’s
China Daily. On April 10, he will present, “The State of Entrepreneurship in
the State of Minnesota: What’s Right, What’s Wrong and What To Do
About it.”

Duncan was editor of Corporate Report-owned Venturesmagazine before
stepping down to begin Vezone. Vezone’s mission is to promote Minnesota
entrepreneurial and economic growth by building online communities that
connect local businesses with business resources and with each other. On
Vezone.com, you can see and be seen by the business community and
connect with the resources that can help you succeed. Vezone reaches
beyond the virtual to provide real opportunities.

Duncan won the Small Business Journalist of the Year 2000 award from
the Minnesota Small Business Administration in his previous role as editor
of Ventures, the multiple-award-winning magazine for growing companies.
His many local business community activities include serving as an advisor
to the governor’s Working Group on Minority Business Development
(2000).

On April 10, learn about the Minnesota Seed Capital Network, a non-profit
organization introducing private investors to high technology companies
seeking to raise seed capital. Project M is Duncan’s grassroots business
initiative that connects companies from Manitoba and Minnesota.

Don’t miss “The State of Entrepreneurship in the State of Minnesota:
What’s Right, What’s Wrong and What To Do About it” featuring Paul
Duncan at 7 p.m. on April 10 at Minnesota Business Academy on 505
Wabasha St. North in St. Paul (the former Science Museum of Minnesota
building) $15.00 for non-members. / Free to members.

Come early for a 6:30 p.m. displays from Young Inventors. To learn more
about Vezone, log onto: http://www.vezone.com

Knight Offers Lessons in Entrepreneurship

When he was an entrepreneurial newbie, Steven Knight was offered plenty
of bad as well as good advice. Now that he’s on the right side of success,
he’s able to draw a line in the sand between what works and what doesn’t
work for high tech businesses. On March 13, he shared his expertise with
“Lessons for High Tech Entrepreneurs.”

In 1998, with two hardware engineers, Knight created Ziga Systems, Inc.
around a router that was faster and cheaper than Cisco’s. Ziga Systems’
mission was “to do for high performance networking what the PC did for
office computers in the 80s.” In hindsight, Knight says that despite strong
technology and a powerful idea, Ziga Systems lacked solid marketing
research. “We prematurely started to act like a real company.”

In 2000, Ziga Systems was acquired by Optical Solutions, and Knight and
his co-founders jumped aboard.
Hindsight being 20/20, Knight told the MEI audience, “Know why you want
to start a business.”A clear vision of purpose helps during inevitable
setbacks, tough times for an entrepreneur and his/her family.
In partnerships, “Forget Minnesota Niceand be able to fight with your
partners,” said Knight.

He strongly advised forming an interested board of legal, financial, human
resources and recruiting advisers. Too often, start-ups are so focused on
legal and financial concerns that they forgo HR and recruiting experts. “In
today’s hiring environment,” said Knight; “a venture capitalist looks at a
company’s ability to attract solid employees, especially in high tech.”

As for attracting the elusive VC, Knight warned, “Actions speak louder than
words.”For instance, Ziga Systems was created by three engineers who
hired other engineers, leaving decisive gaps in the company’s structure.
“My wife said we were three Geeks in a garage with an idea,” said Knight.

“Venture capitalists are not the enemy,” said Knight. “They’re not vulture
capitalists. That doesn’t mean they’re your friends. It does mean that
they’re potential partners."

Young Inventors Display Gadgets

And Gizmos Galore – April 10

If you want to see the promise for tomorrow, arrive early on April 10 to view
the inventions of the Young Inventors. These talented metro youth, grades
four through nine, create new solutions to everyday problems with original
inventions. You’ll be wowed by their clever gadgets and bright ideas.

An annual event, the Young Inventors Display is a much-anticipated event
for the MEI. Mark your calendar for 6:30 p.m. on April 10.

Directions to the Minnesota Business Academy

Calendar

April 10 – MEI Monthly Meeting – PaulDuncan of VeZone.com “The
State of Entrepreneurship in the State of Minnesota: What’s Right, What’s
Wrong and What To Do About it” –

6:30 p.m. – Young Inventors Display
7 p.m. – Meeting

After the meeting, Late Nite Networking – Patrick McGovern’s Pub &
Restaurant at 225 W. 7th Street in St. Paul

May 8 - MEI Monthly Meeting –

6 p.m. Pre-meeting seminar - Jack Carter of Wealth Generation, “Ahead
of the Tidal Wave or Lost at Sea?”
7 p.m. –Speaker to be Announced

June 12

- MEI Monthly Meeting –

7 p.m. –

Mayor Norm Coleman of St. Paul

Breakfast Group

April 19– Minneapolis Group meets at 7:30 a.m., Dover Restaurant,
Double Tree Park Place Hotel in St. Louis Park. Call Bill Lehnertz—621-
948-1105

Late-Nite Networking

Anyone who wishes more informal networking following the MEI meeting
may gather on April 10 at Patrick McGovern’s Pub & Restaurant on 225 W.
7th Street. McGovern’s is located on the corner of West 7th Street and
Chestnut, one block west of the new RiverCenter. McGovern’s offers a full
menu until midnight.